June 28 (Bloomberg) -- OAO GMK Norilsk Nickel pared
declines after its board, led by billionaire Vladimir Potanin’s
Interros Holding, ordered management to lay out plans for buying
back up to 2 percent of the Russian metals producer’s stock.

The shares traded down 0.4 percent at 5,386 rubles as of
6:01 p.m. in Moscow after losing as much as 1 percent earlier.

“We just want the board to grant management the right to
buy stock from the open market when the price is low, which
should support the value,” Potanin said yesterday.